How to Open a Roth IRA Account

If you satisfy the Roth IRA eligibility rules, then the next step is to open a self directed Roth IRA account. You can open a Roth IRA at a brokerage firm, a Mutual Fund company, or your local bank. A Roth IRA can be invested in stocks, bonds, or in a Certificate of Deposit (CD). Your investment options depend on where you open your Roth IRA. Opening it at a discount brokerage firm often gives you the most flexibility as most discount brokers allow you to invest your Roth IRA in stocks, bonds, or a money market account if you are really conservative.

Many discount brokers offer no fee Roth IRAs, which means that there are no annual maintenance fees charged. Check with the brokerage firm for their fees. If you start a Roth IRA account at a Mutual Fund company, then you are basically limited to the Mutual Funds offered by that company only.

Disclaimer: This website is intended to provide general information about Roth IRA retirement plans. Nothing on this site should be considered legal, financial or tax advice. Please consult your tax or financial advisor for professional advice. While we strive to periodically update the information on this website, 2008rothira.com makes no representation or warranties as to the accuracy, reliability, or completeness of any information on this site.